Skylight Capital has acquired Bonney Plumbing Inc., a provider of plumbing services to residential and commercial customers in the greater Sacramento area. No financial terms were disclosed. GW Equity advised Bonney Plumbing on the deal.
PRESS RELEASE
GW Equity, an advisor to privately held and family-owned businesses for mergers, acquisitions, and strategic growth initiatives, announced the merger of its client Bonney Plumbing, a plumbing service and repair company headquartered in Sacramento, Calif., with Bonney Holdings, Inc, a wholly owned subsidiary of Skylight Capital, a San Francisco-based private equity group. The value of the transaction was not disclosed.
A family-owned business since 1989, Bonney Plumbing serves residential and commercial customers in the greater Sacramento area. With the merger, newly established Skylight Capital closed its first deal.
“Bonney Plumbing represents everything we look for in a partner,“ said Collin Hathaway of Skylight Capital. “The company is well run, has a loyal employee base and the sort of sustainable business model we seek. And the Bonney's are fantastic managers and great people. We are excited to be their partners.“
Mark and Candace Bonney will remain owners in the business and continue to manage the company. “It was very important to us to find the right growth partner for the future of our company,“ said Mark Bonney of Bonney Plumbing. “GW Equity helped us find the right people for our business.“
“Bonney Plumbing will now have additional capital to expand its services and market territory to better serve its customers and offer employees greater advancement opportunities, and Skylight Capital will see a lot of reward from the growing company,“ said Eric Sanderson, GW Equity managing director in the transaction.
The deal closed one year after Bonney Plumbing entered the market.
About GW Equity
GW Equity, a Generational Wealth and Equity company, assists privately held and family-owned businesses in completing mergers, acquisitions, divestitures and strategic growth initiatives. GW Equity has more than 300 professional advisors and affiliates nationwide and is headquartered in Dallas, with affiliate offices in New York, Chicago and Irvine, Calif. For more information, contact GW Equity at (877) 213-1792 or info-us@gwequity.com, or visit www.gwequity.com.
About Bonney Plumbing
Family-owned and operated since 1989, Bonney Plumbing is the largest service and repair plumbing company in the Sacramento area. Specializing in residential and commercial customers, Bonney Plumbing employs top-quality plumbers and uses the best in equipment.
About Skylight Capital
Based in San Francisco, Calif., Skylight Capital was formed to invest in or acquire companies in the Western U.S. with EBITDA under $4 million. The firm's capital may be used to provide full or partial liquidity to entrepreneurs, family members, estates, passive investors, or corporate owners, or for minority investments for growth. Skylight Capital's mission is to be the premier private equity firm in the micro-cap marketplace, helping business owners to create and capture value while rewarding our investors with consistently superior returns over the long term.
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